U Maung Maung Lay

After Pakistan, China trying to build economic corridor to Myanmar

July 25, 2018 by Thiha

BEIJING: China and Myanmar are close to signing a deal on the establishment of a China-Myanmar Economic Corridor along the lines of the controversial China-Pakistan Economic Corridor (CPEC). Once launched, the project will unleash a massive inflow of Chinese funds to Myanmar which can further weaken Indian influence over its eastern neighbor. A senior Myanmar […]

Filed Under: Latest News Tagged With: agriculture, Bangladesh-China-India-Myanmar Economic Corridor, China, China-Myanmar economic corridor, Chines-financed dam project, Chinese expert, Chinese funds, Chinese investments, director-general, Federation of Chambers of Commerce of Myanmar, Kyaukphyu Special Economic Zone, mandalay, memorandum of understanding, Myanmar, One Belt One Road Initiative, Pakistan, Peng Nian, Rakhine State, SEZ, South China Sea, Telecommunication, Transport, U Aung Naing Oo, U Maung Maung Lay, Vice-President, Yangon new city

Can China-Myanmar Economic Corridor overcome hurdles to progress?

July 25, 2018 by Thiha

Recently, U Aung Naing Oo, director general of the Directorate of Investment and Company Administration of Myanmar, said that Myanmar and China will soon sign a Memorandum of Understanding (MoU) on building the China-Myanmar Economic Corridor (CMEC), one of the key projects of the Belt and Road initiative (BRI). The two sides reached a 15-point […]

Filed Under: Latest News Tagged With: aung san suu kyi, Bangladesh, Bangladesh-China-India-Myanmar Economic Corridor, Beijing, Belt and Road Initiative, BRI, China-Myanmar economic corridor, Chinese Foreign Minister, CMEC, director-general, Directorate of Investment and Company Administration, Federation of Chambers of Commerce of Myanmar, India, Kyaukphyu Special Economic Zone, mandalay, memorandum of understanding, MOU, Nay Pyi Taw, NLD government, Panglong Conference, Rakhine State, SEZ, Sino-Myanmese border, State Counselor, U Aung Naing Oo, U Maung Maung Lay, Vice-President, Yangon new city, Yunnan

US firms interested in Myanmar’s digital economy

December 12, 2017 by thiha

The US-ASEAN Business Council (USABC) led a business mission to Myanmar in which they held a meeting with the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) to strengthen trade and investments in the country. The USABC is an advocacy organisation for American corporations operating within the Association of Southeast Asian Nations […]

Filed Under: Latest News Tagged With: Alexander Feldman, Association of Southeast Asian Nations (Asean), Directorate of Investment and Company Administration (DICA), Pacific AA Motor Ltd, U Maung Maung Lay, U Wai Phyo, U Zaw Moe Khine, Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), Unocal Myanmar Offshore Co, US-ASEAN Business Council (USABC), Yangon Chief Minister U Phyo Min Thein

Rakhine violence not expected to affect economy or FDI

September 20, 2017 by thiha

Concerns that the ongoing violence in Rakhine State could result in capital outflows and economic sanctions are rising in the investor and business community. At the 2017 Myanmar Global Investment Forum in Nay Pyi Taw on September 12, U Aung Naing Oo, secretary of the Myanmar Investment Commission, said he is not expecting any negative […]

Filed Under: Latest News Tagged With: 2017 Myanmar Global Investment Forum, conflict zone, Foreign direct investments (FDI), Maungdaw Township, MIC, Nay Pyi Taw, Rakhine State, Secretary of the Myanmar Investment Commission, State Minister for Finance Revenue Economics and Planning U Kyaw Aye Thein, U Aung Naing Oo, U Maung Maung Lay, Vice President of Union of Myanmar Chamber of Commerce and Industry (UMFCCI)

Central Bank takes aim at dollar-denominated deposits

June 16, 2017 by thiha

The Central Bank of Myanmar had already published warnings twice and defined the type of punishments in relation to different institutions, said U Win Thaw, director general of the Foreign Exchange Management Department at the Central Bank of Myanmar. The comments were made regarding the illegal use of dollars in local businesses. The central bank […]

Filed Under: Latest News Tagged With: director general of the Foreign Exchange Management Department at the Central Bank of Myanmar, Dollar deposits, dollar-denominated deposits, Indonesia, Indonesian authorities, local and foreign currency-denominated, Myanmar, Myanmar kyats, The Central Bank of Myanmar, the private banks, U Maung Maung Lay, U Win Thaw, vice chair of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI)

CB issues Reminder on Currency use but Dollar Shortage Remains Issue for Banks

January 6, 2017 by thiha

The Central Bank has reissued an instruction that the kyat should be used in all local transactions in an effort to help stabilise the exchange rate. But a senior official in the foreign exchange management department has said the regulator also wants to help route more foreign currency transactions through banks. The Central Bank […]

Filed Under: Latest News Tagged With: industry, international schools, kbz, the Central Bank, U Maung Maung Lay, U Than Lwin, Union of Myanmar Federation of Chamber of Commerce

US Gems Association Eyes Trade Ties as Sanctions End

October 18, 2016 by thiha

The American Gem Trade Association (AGTA) arrived in Myanmar for the first time this week to assess the gems sector and build trade relationships ahead of an anticipated end to the US sanctions regime, which would allow the legal import of Myanmar rubies and jade. The association’s president, Jeffrey Bilgore, said the mission had been […]

Filed Under: Latest News Tagged With: AGTA, development, economic cooperation, industry, Jeffrey Bilgore, Jewellery Entrepreneurs Association, Jewellry Entrepreneurs Association, MGJEA, Myanmar Gems, OECD, Peter Kucik, The American Gem Trade Association, The Myanmar Times, U Aung Kyaw Win, U Maung Maung Lay, UMFCCI, Union of Myanmar Federation of Chambers of Commerce, US President Barack Obama, US Treasury Office of Foreign Assets Control, Yangon Region Gems

The NLD and a new dawn for old business

November 13, 2015 by Thiha

The past few days have been filled with casualties, as moguls hoping to re-take their seats in Nay Pyi Taw are expelled in favour of new faces. Some of the biggest names in business under the former regime – Yuzana Company’s U Htay Myint, Zaykabar’s U Khin Shwe, U Yan Win of A1 Group of […]

Filed Under: Latest News Tagged With: ACE Construction, asia world, foreign investment, Global Witness, Kanbawza group, Kevin Woods, Mike Davis, NLD, U Han Tha Myint, U Maung Maung Lay, U Tay Za, U Zaw Zaw, UMFCCI, University of California, Yuzana Company

China’s peanut appetite forces local oil mills to close

August 28, 2015 by Thiha

Around 90 percent of Myanmar’s oil mills have been forced to suspend business operations due to a chronic lack of peanuts. Throughout 2014 and 2015, Chinese traders have bought up most of Myanmar’s peanut yield, leaving the domestic market with little in the way of raw materials, said oil millers. Traditionally, Chinese buyers come to […]

Filed Under: Latest News Tagged With: a peanut farmer, Association of Edible Oil Merchants and Millers, Bayintnaung Wholesale Center, chair of Ayeyarwady Peanut Oil Company, Chinese traders, oil mills, peanut yield, U Khin Soe, U Maung Maung Lay

Myanmar aims for US duty free by 2014

October 28, 2013 by thiha

Myanmar’s exporters stand to benefit from duty-free access to the United States by the end of the year under the US Generalized System of Preferences, experts say. The Ministry of Commerce said Myanmar must prove that it has improved labour rights and its property laws in line with the international standards provided by foreign institutions. […]